Standard Bank
Standard Trust non compliance of Will & Negligent

My late father left his estate to be administered by Standard Executive Trust.
1.SET negotiated the sale of one of the properties held in trust and sold the property for less than the market value. This property was sold to a co-beneficiary of the trust so apart from the obvious clash of interests, the loss of income to the other beneficiary, namely me.
2.During the 17 years that the above mentioned house was occupied since my father's death, SET never had a representative visit the house to determine if the property was being satisfactorily maintained, and as a result, SET did not take care to ensure that the Capital Investment was achievinlg maximum gain.
3.Since the property sale December of 2012, my mother, as trustee and who, in accordance with my father's Will, has final say in all matters regarding placement of funds, had instructed SET to place the proceeds of the sale into a fixed deposit with NedBank where an interest rate of 5.75% had been negotiated
4. 4. SET refused to do the above, still refuses to do this and has instead placed the funds in a money market where the interest rate is less than 5%.
SET now refuse to answer my emails or provide head office details.

Company: Standard Bank
Country: South Africa
City: Cape Town

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